Indonesian LLDPE film continues to advance in Vietnam

According to market sources, import LLDPE film from Indonesia to Vietnam continues to move higher today, adding another $25/ton from yesterday’s gains, making totally increment range of $20-35/ton compared to last week.

Source from a supplier informed, “Buyers are not showing immediate respond after received the new prices and we think market might take some time to accept higher levels. We have sold out July cargoes and currently offering for August delivery. This could be a minus point given the uncertainties associated with the long shipment parcels.”

Buyers are caught with surprised due to such rapid price increment and most are in the state of consideration whether to make fresh replenishment. A local trader received offers for the cargo at $1240/ton CIF, LC AS term added, “We have purchased a substantial quantity in the past couple of weeks, hence we are planning to temporary hold our procurement activities to monitor further development. Domestic market is picking up, but in a much slower pace than the import ground and this worries us a little.”

Indonesian LLDPE film cargoes to Vietnam is currently reported at $1215-1240/ton, all based on CIF, LC AS term.